FIRST NATIONAL EQUITIES LIMITED vs EXECUTIVE DIRECTOR, ADJUDICATION-I — 2026 CLD 64 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation: 2026 CLD 64 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year: 2026
Reporter: CLD
Parties: FIRST NATIONAL EQUITIES LIMITED vs EXECUTIVE DIRECTOR, ADJUDICATION-I
Subject matter: Criminal

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

FIRST NATIONAL EQUITIES LIMITED VS EXECUTIVE DIRECTOR, ADJUDICATION-I. Reglns. 4(a), 13(3), 13(7), 18(a), 18(c)(v), 9(4)(a)(b), 9(4)(8)(c), 6(4), 13(1), 6(3)(a) & 6(3)(c)---Anti-money laundering regulatory framework, non-compliance of---Appellant (Trading Rights Entitlement Certificate holder of the Pakistan Stock Exchange Limited) was penalized for violation of Anti-Money Laundering Regulations 2018 ('the Regulations 2018')---Validity---Appellant failed to comply with the Regulations 2018 in many respects as it had not provided adequate justification for the failure to maintain the record properly and ensure on-going monitoring---Appellant's failure to provide the required documentation during the inspection period, including records of beneficial ownership, sources of income and updates to client information, constituted significant violations---Thus, no reason to interfere with the merits of the Impugned Order was found and the imposed penalty was upheld---Appeal was dismissed, in circumstances.

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